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Delaware Bankruptcy Update
Simplexity, LLC Preference Actions Filed
On March 14, 2016, Charles A. Stanziale, Jr., as the Chapter 7 Trustee of Simplexity, LLC, et al. (the "Debtors") filed approximately 44 preference complaints seeking to avoid and recover alleged preferential transfers…
Bankruptcy & Restructuring Law
Five Things to Consider When Approached by a Bankruptcy Claims Trader
When a business files for bankruptcy, it can be a confusing and frustrating time for the debtor’s creditors. If an investment firm reaches out with an offer to purchase a…
Delaware Bankruptcy Update
Summary Judgment Granted in Favor of New Matco Defendants in NewStarcom Holdings Bankruptcy
In the NewStarcom Holdings bankruptcy matter, Miller v. American Capital Ltd., et al. (In re NewStarcom Holdings, Inc., et al.), Adv. Pro. 10-50063 (CSS) (Bankr. D. Del. March 8, 2016),…
In Solvency
Sports Authority Files for Bankruptcy – Formation & 341 Meetings Scheduled
By Fox Rothschild LLP, Fox Rothschild LLP
On March 2, 2016, each of the seven debtors which collectively comprise Sports Authority filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code. The cases are jointly administered…
Energy & the Law
Can the E&P Debtor Reject Gas Gathering Agreements in Bankruptcy?
What’s a sure way to destroy untold millions of dollars of energy infrastructure value built in reliance on the promise of reimbursement for huge capital investments necessary to move a…
Bankruptcy & Restructuring Law
New Delaware Chapter 11 Filing (Involuntary) – Georgia Proton Treatment Holdings, LLC
Zeitgeist Capital, LLC, Gryphon Resources, Inc., and Cobalt, LLC have commenced an involuntary case (Case No. 16-10569 (KG)) against Georgia Proton Treatment Holdings, LLC under Chapter 11 of the Bankruptcy…
Restructuring Globalview
Digging for Help Part 2: Additional Key Issues in Metals Exploration Bankruptcies
Last week, we discussed the complexities of metals exploration chapter 11 bankruptcy cases and addressed several of the notable issues that arise in those cases. The discussion of significant issues…
In Solvency
Ninth Circuit Rules That Debtor’s Insider Can Sell Claims to Friendly Third Parties and Garner Critical Acceptance Votes on Its Plan
By Fox Rothschild LLP, Fox Rothschild LLP
[caption id="attachment_2515" align="alignright" width="300"] Copyright: ericbvd / 123RF Stock Photo[/caption] In an Alert published today, Audrey Noll examines the Ninth Circuit's recent decision in U.S. Bank N.A. v. The Village at Lakeridge,…
Bankruptcy Report
A Third Party Release in a Confirmed Plan Shields Against Unknown and Nonexistent Claims
Bankruptcy law and business expectations converged in the Residential Capital (“ResCap”) proceeding when the Bankruptcy Court confirmed that the third party release contained in ResCap’s plan of reorganization protected ResCap’s…
In The (Red)®
Going Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2016
An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased ever so slightly -- only…